Japanese life insurers' premium income hits $18b

Overall operating expenses pencilled in was $4b.

The premium income of 41 Japanese life insurers skyrocketed to $17.52b (¥2,825b) on a year-on-year (YoY) basis, data from the Life Insurance Association of Japan showed.

Total claims accumulated for the first month of the fiscal year reached $5.53b (¥891b), surging 104.5% YoY. Meanwhile, annuities paid stood at $2.95b (¥476b) whilst benefits saw $2.91b (¥469b).

Overall operating expenses pencilled in was $3.97b (¥640b). Further, the period saw its assets surge 102.6% to $2,500b (¥403.2t).

($1.00 = ¥160.97)